The proliferation of online betting seems unstoppable as there seems to a new online casino or betting site that opens. Last year alone, online gambling generated about 50.65 Billion dollars and is expected to increase this year. That is a lot of money and therefore a huge magnet for businessmen to invest more money in apps and websites. This will add more to the ever-expanding reach of online gambling and online betting sites. Let us take a brief look as to how this all started.
What really made the jump was the development of secure forms of financial transactions online, this more than any other solidified online gaming to take hold among bigger businesses. The first ever online casino was launched in 1994 this marked the birth of online gambling. 1996 is the year that marked real money wagers online. From 1996, the 15 websites that are operating became 200. By the year 2000, almost 8 million has registered and participated in online gambling. The number rose steadily from there. The industry continued to grow unabated until the year 2008.
This is the year of the crackdown on online gambling. Online poker has been the focus of online players and poker stars became household names and are celebrated like rock stars. By the year 2009, more than 27k accounts in online poker are frozen and more than 35 million is seized by the Department of justice. The online gambling industry, however, continued to expand across Europe, operators made deals with new payment processing companies in order to have a way for players to have more options in heavily regulated markets. This allowed players extra banking options to easily cash out their winnings without having to worry about the security of each transaction.
This is where it gets exciting Apple products such as the iPhone and the iPad became hugely popular and online casinos took advantage by launching apps that are specific to the ios, the software powering up the operating system of these devices. 2011, however, is also the year that Black Friday happened, a lot of the rockstar online poker players and their company were indicted, and was a sad day for online poker fans and enthusiasts. This is the year that online gaming and casinos really went down and integrated itself into online gaming via mobile phones.
Entrepreneur Richard Branson’s Virgin Group entered the online casino business and ushered in an era of legitimacy. This is also the year the bitcoins or the cryptocurrency entered the online gambling scene. Allowing even more options to get money out of online casinos and online gambling.
The proliferation of online gambling, online casinos, and online betting has reached worldwide status, advances in telecommunication and smartphone technology enabled third world and developing countries to take part in these activities. Local gambling sites like sbobet began popping up all over Asia like mushrooms, putting online gambling literally in the hands of almost everyone who is interested in gambling.